“…Four articles focus on equity CF and its impact on the reputation of follow-on venture capital investors, as well as the impact of market timing on the capital structure of private firms that raise the initial equity through CF (Buttice et al. , 2022; Buttice and Vismara, 2022; Cerpentier et al. , 2022; Cumming et al.…”
Section: Results Of Mpamentioning confidence: 99%
“…After Walthoff-Borm et al (2018a,b), the backward local main path includes twelve papers which also appear in the forward local main path. Four articles focus on equity CF and its impact on the reputation of follow-on venture capital investors, as well as the impact of market timing on the capital structure of private firms that raise the initial equity through CF Buttice and Vismara, 2022;Cerpentier et al, 2022;Cumming et al, 2019). Cappa et al (2021) and Kleinert and Mochkabadi (2022) study the dynamics and critical success factors of CF, while Block et al (2021) and Meoli et al (2022) focus broadly on the governance and regulatory environment of CF.…”
Section: Local Main Pathsmentioning confidence: 99%
See 1 more Smart Citation
Rejeb
1
,
Rejeb
2
,
et al. 2023
EJIM
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PurposeCrowdfunding (CF) has become an increasingly popular means of financing for entrepreneurs and has attracted significant attention from both researchers and practitioners in recent years. The purpose of this study is to investigate the core content and knowledge diffusion paths in the CF field. Specifically, we aim to identify the main topics and themes that have emerged in this field and to trace the evolution of CF knowledge over time.Design/methodology/approachThis study employs co-word clustering and main path analysis (MPA) to examine the historical development of CF research based on 1,528 journal articles retrieved from the Web of Science Core Collection database.FindingsThe results of the analysis reveal that CF research focuses on seven themes: sustainability, entrepreneurial finance, entrepreneurship, fintech, social entrepreneurship, social capital, and microcredits. The analysis of the four main paths reveals that equity CF has been the dominant topic in the past years. Recently, CF research has tended to focus on topics such as fintech, the COVID-19 pandemic, competition, Brexit, and policy response.Originality/valueTo the authors' best knowledge, this is the first attempt to explore knowledge diffusion dynamics in the CF field. Overall, the study offers a structure for analyzing the paths through which knowledge is diffused, enabling scholars to effectively manage a large volume of research papers and gain a deeper understanding of the historical, current, and future trends in the development of CF.
“…Four articles focus on equity CF and its impact on the reputation of follow-on venture capital investors, as well as the impact of market timing on the capital structure of private firms that raise the initial equity through CF (Buttice et al. , 2022; Buttice and Vismara, 2022; Cerpentier et al. , 2022; Cumming et al.…”
Section: Results Of Mpamentioning confidence: 99%
“…After Walthoff-Borm et al (2018a,b), the backward local main path includes twelve papers which also appear in the forward local main path. Four articles focus on equity CF and its impact on the reputation of follow-on venture capital investors, as well as the impact of market timing on the capital structure of private firms that raise the initial equity through CF Buttice and Vismara, 2022;Cerpentier et al, 2022;Cumming et al, 2019). Cappa et al (2021) and Kleinert and Mochkabadi (2022) study the dynamics and critical success factors of CF, while Block et al (2021) and Meoli et al (2022) focus broadly on the governance and regulatory environment of CF.…”
Section: Local Main Pathsmentioning confidence: 99%
Rejeb
1
,
Rejeb
2
,
Appolloni
3
et al. 2023
EJIM
View full textAdd to dashboardCite
PurposeCrowdfunding (CF) has become an increasingly popular means of financing for entrepreneurs and has attracted significant attention from both researchers and practitioners in recent years. The purpose of this study is to investigate the core content and knowledge diffusion paths in the CF field. Specifically, we aim to identify the main topics and themes that have emerged in this field and to trace the evolution of CF knowledge over time.Design/methodology/approachThis study employs co-word clustering and main path analysis (MPA) to examine the historical development of CF research based on 1,528 journal articles retrieved from the Web of Science Core Collection database.FindingsThe results of the analysis reveal that CF research focuses on seven themes: sustainability, entrepreneurial finance, entrepreneurship, fintech, social entrepreneurship, social capital, and microcredits. The analysis of the four main paths reveals that equity CF has been the dominant topic in the past years. Recently, CF research has tended to focus on topics such as fintech, the COVID-19 pandemic, competition, Brexit, and policy response.Originality/valueTo the authors' best knowledge, this is the first attempt to explore knowledge diffusion dynamics in the CF field. Overall, the study offers a structure for analyzing the paths through which knowledge is diffused, enabling scholars to effectively manage a large volume of research papers and gain a deeper understanding of the historical, current, and future trends in the development of CF.
“…External resource providers find it difficult to assess the quality of a start-up. In the context of crowdfunding as a novel source for funding new ventures, problems of information asymmetries are more severe than in other entrepreneurial finance markets (Cerpentier et al, 2021). Indeed, crowdfunding investors cannot do face to face due diligence and find sufficient, correct and easily accessible information (Baucus and Mitteness, 2016;Cumming et al, 2021).…”
Section: Asymmetric Information and Signallingmentioning confidence: 99%
Zribi
1
,
Khoufi
2
2022
IJBS
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Improving the funding results of crowdfunding campaigns is a pivotal point for entrepreneurs, investors, and platforms. Building upon previous research in the field of crowdfunding and signaling theory, we propose a logistic regression to identify the determinants of the success of 5228 KissKissBankBank crowdfunding. The main focus is on estimating the role of signalling opportunities provided to project initiators and funders in mitigating the harmful consequences of asymmetric information. Our main results reveal that, as expected, the success of crowdfunding campaigns is promoted by the signal of identity, patience, pointing, reciprocity, intention and interactivity. The ambition signal is a factor that hinders funding success. Contrary to our research hypotheses, the signal of reputation and social capital has a negative impact on the probability of crowdfunding projects' success. The findings provide not only empirical evidence to understanding the importance of the role of signals in determining the success of crowdfunding campaigns but also useful tools for stakeholders in developing their own crowdfunding strategies at an early stage.
“…Electronic copy available at: https://ssrn.com/abstract=3934088 P r e p r i n t n o t p e e r r e v i e w e d 4 Koetter, 2020). Entrepreneurs have to effectively signal their ability and the business opportunity or risk raising no funding at all (Ahlers, Cumming, Guenther, & Schwienbacher, 2015;Philippi, Schuhmacher, Bastian, 2021;Cerpentier, Vanacker, Paeleman, & Bringman, 2021;Johan & Zhang, 2021), and the effectiveness of these signals depends on investor characteristics (Kleinert & Mochkabadi, 2021). Entrepreneurs can make use of social media to influence success (Datta, Sahaym, & Brooks, 2019).…”
Section: Introductionmentioning confidence: 99%
Cumming
1
,
Reardon
2
2022
SSRN Journal
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No abstract
![Equity crowdfunding, market timing, and firm capital structure - [scite report] (2024)](data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAAAEAAAABCAQAAAC1HAwCAAAAC0lEQVR42mP8/h8AAvMB+NzmkbcAAAAASUVORK5CYII=)